Trade on the London floor was quite quiet because many major economies are still on vacation and lack of support from the New York floor …
Robusta London T5 / 2021 chart session on February 15, 2021
Ending the first session of the week, Robusta coffee prices on ICE Europe – London dropped again. Futures for delivery in March decreased 10 USD, down to 1,332 USD / ton and futures for May delivery decreased 11 USD, to 1,356 USD / ton, the significant decreases. Trading volume in mmedium breast.
Meanwhile, the ICE US – New York floor rested President’s Day (Presidents’ Day), a national holiday in America, closed all day with no transactions.
The price of coffee beans in the Central Highlands provinces decreased by 200 VND, down fluctuating in the frame 31,400 – 31,900 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,436 USD / ton, FOB – HCM, with the difference plus 70-80 USD / ton in term of May in London.
Reais copper increased slightly by 0.02%, to $ 1 = 5,3740 Reais due to the lack of consensus between the National Assembly and the Government on emergency funding for people losing income because of the disease, while Carnival lasts until the end of Wednesday causing economic activities to stall.
Robusta coffee prices weaken when trading alone, in the context of many major markets on holiday and the Eurozone finance ministers are contemplating shrinking irregular funding due to economic recession as well as instability due Brexit cause. However, this positive view has not yet been brought into play as many major economies in the bloc are still grappling with the need for covid-19 vaccine.
The market also spoke about the too high rise in shipping rates, which brought profits “Terrible” for shipping companies, which is completely unreasonable, unacceptable in the context of the world economy struggling with pandemic.
English (giacaphe.com)
